Industrial

Bridge Development Partners Buys Land Site in Metro Seattle for Industrial Development

by Amy Works September 18, 2019

SUMNER, WASH. — Bridge Development Partners has purchased a 3.8-acre land site at 3113 142nd Ave. East in Sumner, a suburb of Seattle, for an undisclosed price. The company plans to develop Bridge Point Sumner South, an industrial building, on the site. Slated for delivery in third-quarter 2020, Bridge Point Sumner South will feature 82,591 square feet of space, divisible down to 30,000 square feet; LED interior and exterior wall pack lighting; ESFR fire protection; 32-foot clear ceiling heights; two drive-in doors; 14 exterior docks; a 125-foot truck court; and parking for 63 cars. Thad Mallory, Taylor Huff, Cam Warren and Blake Bentz of Newmark Knight Frank brokered the deal for Bridge and will serve as leasing agents for the project.

September 18, 2019

Illinois Industrial Leasing Activity Midwest

Fiat Chrysler Signs 25,523 SF Industrial Lease in Bolingbrook, Illinois

by Kristin Harlow September 18, 2019

BOLINGBROOK, ILL. — Fiat Chrysler Automobiles (FCA) has signed a 25,523-square-foot industrial lease in Bolingbrook. The car manufacturer will use the space as a training facility for its employees. The 112,049-square-foot building is located at 1325 Remington within Carlow Corporate Center. The property features a clear height of 28 feet, 242 car parking spaces, three drive-in doors and 11 loading docks. FCA will begin occupying the space in January. Jordan Decker and Chris Cobb of Cushman & Wakefield represented FCA in the lease transaction. Dominic DeRose, Vern Schultz and Charles Canale of Colliers International represented the owner and developer, Opus Group.

September 18, 2019

Industrial Market Reports New Jersey Northeast Northeast Market Reports

Array of Industries Drives New Jersey Industrial Market’s Growth

by Taylor Williams September 18, 2019

New Jersey’s industrial market continues to expand, driven by a plethora of industries, including retail, manufacturing, food companies, transportation and logistics. As the popularity of e-commerce shows no signs of abating, New Jersey has become a key location for distribution centers and last-mile delivery hubs to serve the entire Northeast region. E-retailers are scooping up available industrial space, taking advantage of New Jersey’s excellent air, freight, port, and rail infrastructure that links it to the rest of the region and the country. Increasing Demand After taking a slight breather during the first quarter of 2019, in part due to a lack of available high-quality space, total leasing activity has increased by 20 percent during the past three months, bolstered by more than 20 leases exceeding 100,000 square feet. Absorption was widespread, with occupancy level increases in 16 of 25 submarkets for both the quarter and year over year. In total, 2.4 million square feet of positive net absorption was recorded during the second quarter of 2019, the highest level since the third quarter of 2018. Moreover, occupancy levels increased by 8.6 million square feet during the past 12 months, the eighth consecutive quarter where more than 8 million square feet …

September 18, 2019

Development Industrial Texas

Amazon to Open Regional Air Hub at AllianceTexas in October, Create 300 Jobs

by Taylor Williams September 17, 2019

FORT WORTH, TEXAS — Amazon will open a regional air hub at Fort Worth Alliance Airport in October, a move that is expected to bring 300 new full-time jobs to the region. The build-to-suit project is the first of its kind in the Amazon Air network and will support the Seattle-based e-commerce company’s larger-scale regional needs, including sortation capability and infrastructure to handle multiple flights daily.

September 17, 2019

Development Industrial Texas

KDC to Develop 200,000 SF Manufacturing Facility for Raytheon in McKinney, Texas

by Taylor Williams September 17, 2019

MCKINNEY, TEXAS — KDC will develop a 200,000-square-foot manufacturing facility for Raytheon at the defense contractor’s Space & Airborne Systems headquarters in the northern Dallas suburb of McKinney. The project, construction of which is slated for a late 2020 completion, is expected to bring 500 new jobs to McKinney. In 2014, KDC delivered a 489,000-square-foot office complex for Raytheon at CityLine in Richardson.

September 17, 2019

Acquisitions Industrial Texas

NAI Partners Acquires 146,000 SF Industrial Park in Houston

by Taylor Williams September 17, 2019

HOUSTON — NAI Partners’ Investment Fund has acquired Point West Business Park, a 146,000-square-foot industrial development located in Houston’s Westchase area. Andrew Pappas and Adam Hawkins of NAI Partners negotiated and closed the off-market deal alongside Todd Carlson and Brad Porter. The seller was Interra Capital Group.

September 17, 2019

Industrial Leasing Activity South Carolina Southeast

Expeditors International Signs 143,000 SF Industrial Lease in Metro Charleston

by Alex Tostado September 17, 2019

HANAHAN, S.C. — Expeditors International of Washington Inc. has signed a 143,000-square-foot industrial lease within North Pointe Commerce Park in Hanahan. Expeditors will occupy 58 percent of the 247,000-square-foot building located at 1017 Northpointe Industrial Blvd., which is situated 14 miles northwest of downtown Charleston. Of the 143,000 square feet, 22,000 will be office space that the landlord, West-Signal, will build out. The building features tilt-up concrete construction, 32-foot clear heights, ESFR sprinkler systems and LED lighting. Expeditors is expected to begin occupying the space in early October. Jeff Kernochan of Fischer International and Hagood Morrison of Bridge Commercial represented the tenant in the lease negotiations. Peter Fennelly, Simons Johnson and Tim Raber of Bridge Commercial represented West-Signal, which is a joint venture owned by an affiliate of North Signal Capital LLC and a fund managed by Westport Capital Partners LLC.

September 17, 2019

Acquisitions California Industrial Western

Colliers Arranges Sale of 46,830 SF Industrial Building in San Diego for $6M

by Amy Works September 17, 2019

SAN DIEGO — Colliers International San Diego Region has brokered the sale of an industrial building, located at 7550 Panasonic Way in San Diego’s Otay Mesa neighborhood. Guy C Clum Trust sold the property to RMJF LLC for $6 million. Concurrent with the acquisition, the new owner was able to secure a long-term lease for the property. Mark Lewkowitz and Chris Holder of Colliers International represented the seller, while Craig Fitterer of Lee & Associates represented the buyer in the deal. Constructed in 2005, the 46,830-square-foot building features drive-around truck access, dock- and grade-level loading and a large, secured yard.

September 17, 2019

Acquisitions Idaho Industrial Self-Storage Western

Marcus & Millichap Brokers Sale of 166-Unit Self-Storage Facility Near Boise

by Amy Works September 17, 2019

KUNA, IDAHO — Marcus & Millichap’s LeClaire Group has arranged the sale of Kuna Self Storage, a self-storage facility in Kuna, a suburb of Boise. Messmer Properties sold the asset to an undisclosed buyer. The acquisition price was not released. Kuna Self Storage features 166 non-climate-controlled units, 15 rentable outdoor parking spaces, a fully fenced storage area and an on-site manager’s office. Jordan Farrer of Marcus & Millichap’s Salt Lake City office and Adam Schlosser of the firm’s Denver office, in cooperation with Paul Ryan of Marcus & Millichap’s Boise office, represented the seller in the deal.

September 17, 2019

Development Illinois Industrial Midwest

Krusinski Breaks Ground on 138,000 SF Headquarters for Yamazen in Elk Grove Village, Illinois

by Kristin Harlow September 17, 2019

ELK GROVE VILLAGE, ILL. — Krusinski Construction Co. has broken ground on the new headquarters for Yamazen Inc. in Elk Grove Village. The 138,000-square-foot, two-story building will be located at 111 NW Point Blvd. Yamazen, which sells and distributes machine tool equipment and is a subsidiary of Japan-based Yamazen Corp., will relocate its current operations and staff from Schaumburg. Completion is slated for summer 2020. The facility will feature 50,000 square feet of offices, conference rooms and product demonstration areas. The distribution space will include two loading docks, two drive-in doors and 137 car parking spaces. The project team includes Cornerstone Architects Ltd., civil engineer V3 Companies Ltd. and owner representative Ketone Partners.

September 17, 2019

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